In this CEC Research Brief (which can be downloaded here as a pdf), we examine reserves or remaining marketable natural gas resources,¹ marketable production, and revenue trends in natural gas markets in Ontario, Quebec, Nova Scotia, New Brunswick, and Newfoundland & Labrador and compare them to key northern US states (Pennsylvania, Ohio, North Dakota, and West Virginia). The latter have all experienced significant increases in production over the past decade.
Canadian Energy Centre Executive Director of Research Mark Milke joined National Post Radio host Anthony Furey to discuss the centre’s latest Fact Sheet on the economic impact of the oil and gas industry on Ontario.
Canadian Energy Centre Executive Director of Research Mark Milke joined It’s Your Business host Mario Toneguzzi to discuss the findings of new research on the impact of the oil and gas sector, along with Alberta, on Ontario’s economy.
It’s a truism of politics that “all politics is local,” as the 1980s’-era Leader of the U.S. House of Representatives, Tip O’Neill put it.
Canada’s oil and gas industry has a positive impact on many sectors of the Canadian economy, not only in Alberta but across the country. In this CEC Fact Sheet (which can be downloaded here as a pdf), we examine the direct and indirect impact that the oil and gas sector has had on the Ontario economy.¹ Given that the largest proportion of oil and gas activity in Canada occurs in Alberta, we also profile the impact of purchases from Alberta on specific Ontario sectors.
In a recent CBC story about the oil and gas industry and on Alberta Premier Jason Kenney’s claims about the same, the reporter alleged that the premier’s claims were ‘cherry-picked, misleading or wrong.’
No matter how you slice it, Canada’s oil and natural gas sector has been one of the nation’s most significant contributors to jobs, GDP and tax revenues over the decades.
The oil and gas extraction sector in Alberta has made a significant contribution to Canada’s GDP, output and jobs over the past decade. The broader energy sector has also made a significant contribution to federal and provincial government revenues directly in the form of corporate income taxes and royalties (as noted in previous CEC research.)¹
The broad oil and gas sector¹ has been and continues to be a significant contributor to Canada’s economy. Compared to the narrower direct oil and gas extraction sector, which comprised about 2.2 per cent of GDP in 2016, the broad oil and gas sector includes both the direct and indirect impacts of oil and gas extraction and oil and gas investment on the economy. Even with the energy price decrease as of 2016, the broad energy sector’s contribution (direct and indirect) amounted to 5.4 per cent to Canada’s total GDP.
When forecasting future oil consumption around the world, many people have opinions and agendas, but forecasts rooted in facts and technological capabilities are rarer.